Tax Technology company Vertex announced yesterday the acquisition of Taxamo, a cloud-based tax and payment solution provider for e-commerce and marketplaces. The purchase price was reported to be a $200 million all-cash transaction.
Taxamo solutions are expected to be added to the Vertex Cloud portfolio expanding Vertex’s offering to their global customer base.
“The fabric of today’s global commerce is more connected and complex than ever before,” said Vertex CEO David DeStefano. “Our mission is to enable every business to transact, comply and grow with confidence. We are incredibly excited to bring these new end-to-end solutions to our customers and partners around the world.”
John McCarthy, Taxamo founder and CEO will join Vertex, overseeing the company’s e-commerce and marketplace strategy.
“We are extremely proud of the company we’ve built over the past 10 years, and I am excited to join such a recognised, trusted leader in tax technology,” said McCarthy.
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